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<p class="MsoNormal"><a name="_Hlk128997317"></a><span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif"><img width="153" height="59" id="_x0000_i1025" src="cid:image001.png@01D95BE0.656A0870"></span></span><span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif"><o:p></o:p></span></span></p>
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<p class="MsoNormal"><span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">March 21, 2023<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif"> <o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">To:<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">Department Benefits Representatives<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">From:<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">Central HR Benefits Office on behalf of UC Office of the President<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">Re:<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk128997317"><span style="font-family:"Arial",sans-serif">2023 Annual COLA Information for UCRP and UC-PERS Plus 5 Plan<o:p></o:p></span></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">UC Office of the President has announced the following Cost of Living and Inactive Cost of Living Adjustments for 2023.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">For the following retirement or disability dates, the
<b>July 1, 2023 cost-of-living adjustment</b> (COLA) for UCRP and UC-PERS Plus 5 Plan annuitants or benefit recipients will be:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="line-height:105%"><b><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">Retirement or Disability Date<o:p></o:p></span></b></p>
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<p class="MsoNormal" style="line-height:105%"><b><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">UCRP COLA<o:p></o:p></span></b></p>
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<p class="MsoNormal" style="line-height:105%"><b><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">UC-PERS Plus 5 COLA<o:p></o:p></span></b></p>
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<p class="MsoNormal" style="line-height:105%"><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">On or before July 1, 2022<o:p></o:p></span></p>
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<p class="MsoNormal" align="right" style="text-align:right;line-height:105%"><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">2.90%<o:p></o:p></span></p>
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<p class="MsoNormal" align="right" style="text-align:right;line-height:105%"><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">2.90%<o:p></o:p></span></p>
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<p class="MsoNormal"><b><u><span style="font-family:"Arial",sans-serif"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoNormal"><b><u><span style="font-family:"Arial",sans-serif"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">For the following separation dates, the
<b>July 1, 2023 Inactive COLA</b> on the HAPC for UCRP inactive members with 1976 Tier service credit, Safety or Tier Two members will be:
<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify;line-height:95%"><span style="line-height:95%;font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="line-height:105%"><b><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">Separation Date<o:p></o:p></span></b></p>
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<p class="MsoNormal" style="line-height:105%"><b><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">UCRP COLA<o:p></o:p></span></b></p>
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<p class="MsoNormal" style="line-height:105%"><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">On or before June 29, 2023<o:p></o:p></span></p>
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<p class="MsoNormal" align="right" style="text-align:right;line-height:105%"><span style="line-height:105%;font-family:"Arial",sans-serif;color:black">2.00%<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><br>
Beginning April 1, 2023, the updated 2023 Inactive COLA will be used in the calculations processed in UCRAYS for retirement elections for July 1, 2023 and later.</span><span style="font-size:9.0pt"><o:p></o:p></span></p>
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